# My SONYMA loan story..

**URL:** <https://forums.speedlife.net/t/my-sonyma-loan-story/45264>\
**Category:** NYSpeed Off Topic\
**Created:** [March 19, 2008, 8:11am UTC](https://forums.speedlife.net/t/my-sonyma-loan-story/45264 "2008-03-19T08:11:34Z")\
**Posts on this page:** 1\
**Showing post:** 37

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**Author:** ![frofan](https://avatars.discourse-cdn.com/v4/letter/f/9de053/32.png) [@frofan](https://forums.speedlife.net/u/frofan)\
**Post date:** [March 19, 2008, 4:09pm UTC](https://forums.speedlife.net/t/my-sonyma-loan-story/45264/37 "2008-03-19T16:09:46Z")

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> [@Fry](#):
>
> lol there’s the logic that put the country into a financial crisis.
> 
> $247k @ 5% for 30 years = $1326/month  
> A $247k house in buffalo will fetch maybe $6k in taxes = $500/mo  
> +100/mo electric  
> +150/mo natural gas  
> +50/mo homeowners insurance  
> +50/mo car insurance  
> +200/mo gasoline  
> +400/mo food  
> +50/mo cable/internet
> 
> =$2826 + car repairs, house repairs, christmas presents, movie rentals, beer, etc.
> 
> On a 40k salary your monthly income is $2500 after 25% income taxes.
> 
> Therefore, mortgage industry meltdown.

Fry summed it up pretty good. Do the math before you jump in head first and end up costing me more!

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